A poll of 691 senior decision makers by Now: Pensions found 28 per cent did not know contributions are increasing, and 42 per cent were unaware of the scale of the increase.
Awareness was better amongst small businesses with 81 per cent aware of the upcoming changes in April 2018, in comparison with just a 66 per cent of large businesses.
Amongst those senior business decision makers that do know about the upcoming changes, 92 per cent are also aware that their business could be fined if they don’t act.
Now: Pensions director of policy Adrian Boulding says: “Although these changes have been planned for a number of years, it seems that some employers still risk being caught out. The good news is, it’s not too late to take action and there’s plenty of support available for those that may be unsure what to do.”